Brief: Banco de Bogotá to control Aval digital payment unit

Monday, March 12, 2018

Colombian conglomerate Grupo Aval said in a regulatory filing that subsidiary Banco de Bogotá would control Aval Soluciones Digitales (ASD).

ASD is a so-called Sedpe, an entity designed to offer affordable electronic deposit and payment services to low-income segments of the population.

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Authorization for ASD to begin operating is pending.